STORY OF THE DAY
Responsibility and profit are the best ESG incentives

Story of the week

News Responsibility and profit are the best ESG incentives
29
Sep
2023

Responsibility and profit are the best ESG incentives

by Property Forum
What's driving ESG investments in 2023? This question was attempted to be answered by the participants of one of the panel discussions at the CEE Property Forum 2023 conference, which was held last week in Vienna. We write about some of the answers they found in the summary below.
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Investment

News Adventum Hungary investment IPO retail
29
Sep
2023

Shopper Park Plus to launch euro-based IPO on Budapest SE

by Property Forum
Retail share subscription opens on October 9. 2023. In addition to professional investors, Hungarian retail investors will also be able to participate in the Budapest Stock Exchange’s (BSE) first euro-based initial public offering.
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NEPI Rockcastle completes infrastructure investment in Craiova Mitiska REIM raises €168 million Trinity Bank buys banking palace in Prague's centre

Report

News China commercial Europe property valuation residential Savills US
28
Sep
2023

Property remains the world’s biggest store of wealth

by Property Forum
With a total value of $379.7 trillion at the end of 2022, real estate is worth more than the global equity and bond markets combined and is almost four times the size of global GDP, shows a Savills report.
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Poland and Romania are the markets to be in How should real estate markets react to changing age structures? Equity investors will have more deal opportunities in 2024

Industrial

News Dr Irena Eris logistics Polans Real Management warehouse Warsaw
28
Sep
2023

Dr Irena Eris to lease warehouse space in Good Point V near Warsaw

by Property Forum
Real Management S.A. has signed a lease agreement with Dr Irena Eris for warehouse and office space in its own development, an industrial park Good Point V in Łubna, near Warsaw. The warehouse space of 8,500 sqm and office space of 500 sqm is scheduled to be handed over to the tenant in Q3 2024.
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Warehouse supply in Poland hits all-time high Panattoni to build sites for automotive supplier in Hungary Third Accolade industrial park in Cheb secures new tenant

Career

News career Europe HB Reavis
28
Sep
2023

HB Reavis announces changes in top management

by Property Forum
Changes are currently taking place in HB Reavis’ executive leadership teams and across the Board of Directors. Marian Herman and Peter Pecnik stepped down as Group CEO and Group CFO, respectively. The recently created HB Reavis Asset Management platform managing a €2.3 billion top asset portfolio will be led by Marcel Sedlak as CEO, Tomas Krajcir as CFO and Matus Liptak as COO. Steven Skinner was appointed as CEO to lead the company development arm that focuses on developing the existing pipeline.
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Melinda Kovács joins Knight Frank Hungary Cushman & Wakefield Slovakia appoints new Managing Partner CBRE expands ESG team in continental Europe

Interview

News BNP Paribas Real Estate interview logistics office Poland warehouse
28
Sep
2023

The rally of the black swans must come to an end at some point

by Michał Poręcki
How long will the cooling off in the investment market last? What are the main factors currently shaping demand? Which projects will banks lend money for today? In an interview with Property Forum, BNP Paribas Real Estate experts Małgorzata Fibakiewicz and Tomasz Arent summarised the current situation in the retail and warehouse sectors in Poland.
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Brownfield schemes will become more common in Poland Improving ease of doing business in CEE to attract more occupiers Local players in CEE remain highly competitive

Office

News Brno Czech Republic Hradec Králové office Olomouc Ostrava Plzen Prague Ustí nad Labem
27
Sep
2023

Czech regions suffer from lack of suitable offices

by Property Forum
More and more companies are considering expanding into Czech regions, but a lack of suitable office space is preventing them from doing so. In regions outside of Prague or Brno, there is not only a shortage of modern space for rent, but also a lack of flex operators. Those types of businesses could benefit from the growing interest of international companies in the Hub & Spoke or Flex & Core model, reports Colliers. 
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Meta pays £149 million to get out of London office lease Employees expect employers to support their work-life balance Walter Herz becomes sole agent of CUBE Office Park in Gdańsk

Residential

News Bucharest Hercesa Libra Internet Bank residential Romania Stellaris
27
Sep
2023

Hercesa gets bank loan for resi project in Bucharest

by Property Forum
Spanish developer Hercesa has obtained a loan worth 33 million lei (€6.6 million) from Libra Internet Bank for the construction of a new residential project in western Bucharest. 
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UBM finishes rough construction of wooden houses in Prague Wing's resi project gets BREEAM „Very Good” certification Redport Capital to start new resi phase in Bucharest

Hotel

News Bucharest Forty Management Lucian Azoiței Mircea Drăghici Radisson Lagoon Hotel Bucharest Romania
26
Sep
2023

Radisson hotel to open in Bucharest mixed-use scheme

by Property Forum
Radisson Hotel Group was selected to be the operator of the hotel component in the Central District Lagoon City, developed in Bucharest by Forty Management. The Radisson Lagoon Hotel Bucharest is planned as the first of several such branded co-operations across the globe. 
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Rock Holding gets permit for hotel in Poiana Brașov New Hampton by Hilton hotel opens in Budapest Accor and PHH Group cooperate on Mövenpick brand in Poland

Retail

News Croatia mall renovation retail SEE SES shopping Zagreb
26
Sep
2023

SES to refurbish Zagreb shopping centre in 2024

by Property Forum
SES is refurbishing the King Cross shopping centre in Zagreb, Croatia which it has owned and managed since 2018. Construction work to completely refurbish the centre will begin in 2024 following an investment of approximately €40 million. Completion is scheduled for autumn 2025.
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Kaufland opens largest timber store in Slovakia Polish retail vacancy rates fall Złote Tarasy attracts more new tenants to Warsaw

Economy

News economy food Hungary inflation services
08
Aug
2023

Hungarian inflation falls below 20% but still remains highest in CEE

by Property Forum
Consumer prices in Hungary were 17.6% higher on average in July 2023 than a year earlier. The highest price rises were measured for electricity, gas and other fuels as well as food over the last twelve months. In one month, consumer prices increased by 0.3% on average, within which, however, clothing and footwear cost 1.4%, food 0.9% and consumer durables 0.5% less, the Hungarian Central Statistical Office (KSH) reports.
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ESG compliance to appear in the judicial system in Hungary Low-cost ESG measures can’t bring significant improvement Inflation hits record high in Hungary last year

New leases

  • A new iSpot Apple Premium Reseller store has opened in Galeria MM in Poznań. This is the fourth iSpot location in this cty. The sales floor of the newest store is approximately 100 sqm.
  • The British brand Sports Direct has joined the tenants of Galeria Mazovia in Płock, while the Pandora brand store and the Crazy Bubble outlet have also reopened.
  • A Dealz shop has opened in Galeria Solna in Inowrocław. The store, with a refreshed visual concept, took up an area of over 500 sqm.

New appointments

  • In September, Michal Berski took up the position of head of the warehouse sector at CBRE Poland. He has been with the company for over 10 years. In his new role, he manages strategy and the development of all business lines within the warehouse and industrial sector.
  • Slawomir Czarnecki is the new president of Grupa Muszkieterów and ITM Poland. He has replaced David de Bosschère. The new CEO is the owner of the Bricomarché shop in Świecie and has many years of experience in trade, as well as in the Group's internal structures.
  • LCP Properties, a developer in the Polish retail park market, is continuing to strengthen its organisational structure. Andrzej Plit has been appointed as the new Finance Director. Meanwhile, for the LCP-owned EMKA shopping centre in Koszalin, Daria Kokowska became the new Shopping Center Director.

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